Welcome Back, Weekend Warriors!
This is the Amy Jones Group's weekly newsletter, detailing local events, recent real estate news, and open houses.
This week, we're bringing you six fun-filled events happening around the Valley!
Our Team is Growing
We are hiring!
Real Estate Professionals, Showing Assistant & A Spanish Speaking Bilingual Real Estate Agent
The Amy Jones Group is growing! We are looking for EXPERIENCED agents to join our Southeast Valley team. Known for our excellent client care, exceptional negotiation skills, world class digital marketing, and being trusted advisors in the SE Valley for more than a decade - we are looking for hard working, ethical, creative, real estate professionals who love to learn and thrive in a team environment, where giving back and giving to each other is important to our overall success. For more information on who we are and how to apply, visit:
https://www.amyjonesgroup.com/careers or reply to this post directly!
Email your resumes to - [email protected]
Market stabilization is an interesting term and one which is causing quite a bit of confusion in the marketplace as it relates to the available supply of residential properties and the subsequent demand for those properties across the valley.
After more than a decade of under building fueled by the fear of a market crash that would leave us with half-developed communities combined with a population growth escalated by the continued influx of residents and companies from higher price point cities with lower affordability ratings, we’ve been challenged with a deficit in inventory that will take months if not years to recover from.
Watch below as local publication - BeLocal Gilbert interviews the owner of the Amy Jones Group - Our very own Mindy! She talks about who we are, who we serve, why staying up to date on the market is so important (especially now) and how we stay connected with our local community!
We’ve watched appreciation rates go from just 6% annually 2 years ago to 24% annual appreciation over the last 12 months meaning that a house you bought for $450,000 before Halloween of last year would likely list for over $100,000 more this Fall or be prime for a refinance that would allow you to remove your mortgage insurance years before your lender originally estimated.
Sellers have enjoyed just 2.5 weeks of inventory to compete with as compared to a balanced market which would have nearly 5x the inventory, and buyers can’t help but to be thrilled with interest rates +/-3% making even the most expensive purchases seem more affordable than ever. Listings under contract are up, days on market is down, average sales to list price is still trending about 2% over list price, and while demand is slightly lower than average, supply is just a 1/4 of what we need which is something we simply can’t build over night.
So, what is stable about this type of a market? While inventory has nearly tripled since the spring, growing 25% in July alone, we have seen a decreasing amount of volatility in our market over the last month. While it may have been difficult for the consumer to detect, as inventory was skyrocketing, not just in price but quantity, demand was falling as many buyers became discouraged with the pace of the market and others felt priced out of options especially here in the Valley. For now, those trends seem to have slowed if not stopped completely, leaving the balance of supply and demand at a standstill month over month.
As rental prices have soared 36% valley wide in the last two years, paling in comparison to the 55% increase in housing prices over the same time period, this potential calming of the waters might be the best time to rev up your home buying engines. The expectation of increasing prices and interest rates continues to drive buyer demand while sellers can read between the lines of the 32% increase in new home permits from the first half of the year, and investors - well, you might want to take a cue from some of the biggest who have doubled down on purchases in the valley.
As seasonality returns to the landscape, we’ll likely continue to see a market very similar to the one we were in before COVID came on the scene in 2020. January will likely bring another increase in homes available after a strong new construction quarter rounds out 2021, and then the Spring will return a lighter version of the frenzy seen earlier this year.
Staying out of the prediction game and knowing that institutional buyers are currently playing a larger role in the current market than expected, this market stabilization period although at a much lower inventory level than buyers had hoped for, seems like a good time to try to settle into that new home for the holidays. Have questions? Schedule a call with the Amy Jones Group today!
Face Painting - Mother Nature's Farm
Saturday, September 25th at 10:00 am
Face painting at Mother Nature's Farm. Admission at the farm is $10. Face painting is a separate cost. Check out my work at facebook.com/Blushingpeachart
Fall Farmer's Market - Mesa
Saturday, September 18th at 2pm
Join the vendors of the Downtown Mesa Farmers Market for our Fall Opening! We'll have live jazz, a hot dog eating contest hosted by Shwang's Vegan Hot Dogs, and more entertainment.
Our market will be expanding for the fall, so make sure to come visit all your favorite vendors and welcome those joining us in the fall!
Soap making Class - Peacock Wine Bar
Sunday, September 26th at 1pm
In this beginner soap making class you will learn the basics of cold process soap, what oils can and should be used when making cold process soap.
You will also get to make two batches of your very own custom soap! You will go home with 3 pounds of handmade soap to love and cherish until all the relaxing showers you take do you part. (equivalent of about 10 bars with a retail value of $85)
All supplies and materials will be provided. Please wear clothes that can get oil stained in case there are spills.
Minimum age to attend the class is 12.
Class will be held on Saturday September 26th 2021 from 1-3 pm. Please arrive a few minutes early to sign in.
Peacock Wine Bar
1525 N Gilbert Rd
From now until October 1st
It's that time of year where we are seeking donations of water or funds to purchase water as we are heading back into triple digit weather.
This much needed water will be given to the homeless and unsheltered.
From now until October 1st, please donate water or funds to our office or we will come and pick them up from you!
Thank you for helping us make a difference this summer.
Realtor Safety Class - Gilbert
Tuesday, September 28th at 11:00 am
Join us on September 28th at 11am to talk about realtor safety!Mindy Jones will be teaching us the tips, tricks and available safety tools for realtors to make sure we're always prepared.
Local Business Mixer - Chandler
Thursday, October 7th at 4:30 pm
Join the Amy Jones Real Estate Group for our quarterly business mixer!
As one of the top real estate groups in the Valley, we are always looking for new businesses to share with our clients.
Come by Parlay Kitchen to meet our team of fantastic agents, as well as other local businesses!
This event is being sponsored by our friends at Fidelity National Title Agency - Copper Point.
🚨 HOT On The Market 🚨
🏡 Open Houses 🏡
🏡 Know Your Home Value 🏡
😲 In Case You Missed It!
Thinking about buying or selling a home?
Start your home buying journey today.
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Find out what your home is worth.
Now is the perfect time to see how much your home has appreciated